Aug 142016
(Second of two parts)
In last week’s article, we opened a discussion on Republic Act (RA) No. 9505, also known as the “Personal Equity and Retirement Account (PERA) Act of 2008,” which aims to encourage the general public to save for their retirement. While the law was approved on Aug. 22, 2008, it was only in 2011 that Bureau of Internal Revenue (BIR) Revenue Regulations (RR) No. 17-2011 was released. It articulated the guidelines in the administration of tax privileges and incentives of the PERA Law.